The company is understood to have secured plenty of support for its $600 million raising, which would value the group at 12 times FY21 revenue, or $1.3 billion on a market capitalisation basis.
Most of the funds raised will go to the company’s early investors. Only $90 million is earmarked to go into the business. The deal is expected to come together in the next few days.
Elsewhere, we take a look at silver and gold play Adriatic Metals following Sandfire Resources’ exit, and have found Mercury Capital securing another juicy payday (on a multiple of money basis, at least).
SiteMinder is close to finalising the terms for its much-anticipated float and will settle on an enterprise value to revenue multiple between 11.8 and 12.3 times.
Mercury Capital, the quiet achiever of the local private equity scene, is understood to have made another quiet exit with an eye-watering 10-times plus money multiple.
Revenue forTelstra Ventures and Seven West Media-backed online healthcare booking service HealthEngine is expected to be up 42 per cent in the first quarter.
